Residential property prices across 150 cities worldwide increased by 6.9% in the year to March 2017, says Knight Frank; that’s the highest rate of annual growth since Q4 2013…
82% (123) of the tracked cities recorded positive annual price growth, with 40 posting double-digit rises.
Chinese cities still dominate the top rankings – although “first tier” cities such as Beijing and Shanghai have shifted downwards as smaller hubs, like Wuxi and Nanjing, rise. Tighter regulations (e.g. higher loan-to-value ratios and limits on second home purchases) are now filtering through into China’s house price indicators, notes KF.
Fast-growing Toronto (24.8%), home to a new foreign buyer tax, is likely to mirror Vancouver (12.2%) in seeing its rate of growth moderate in coming months.
Dutch cities are emerging as a key centre of growth in Europe; all four cities tracked here by the index topped 10% annual growth.